Coal
After oil, coal is expected to be the slowest growing major fuel, with demand rising on average 1.1% a year to 2035. Over the period, growth flattens to just 0.6% a year after 2020. Nearly all (87%) of the net growth in demand to 2035 is expected to come from just China and India, whose combined share of global coal consumption will rise from 58% in 2012 to 64% in 2035.
Other
Nuclear energy output is expected to rise to 2035 at around 1.9% a year. China, India and Russia will together account for 96% of the global growth in nuclear power, while nuclear output in the US and EU declines due to expected plant closures.
The growth in hydroelectric power is expected to moderate to 1.8% a year to 2035, with nearly half of the growth coming from China, India and Brazil.
Renewables are expected to continue to be the fastest growing class of energy, gaining market share from a small base as they rise at an average of 6.4% a year to 2035. Renewables’ share of global electricity production is expected to grow from 5% to 14% by 2035. While the OECD economies have led in renewables growth, renewables in the non-OECD are catching up and are expected to account for 45% of the total by 2035. Including biofuels, renewables are expected to have a higher share of primary energy than nuclear by 2025.
BP Energy Outlook 2035 is available online at www.bp.com/energyoutlook.
Source: BP.
